Google Brings Mobile Payment Platform

Google has now planned to enter full fledged mobile market. It is expected to unveil details about how customers can make payments, redeem coupons, and even get loyalty points by waving smartphone in front of a small reader at a checkout counter.

Google plans to show off the technology at an event on Thursday in New York. The technology is called as near field communication, which is embedded in newer smartphones powered by Android OS, and this will convert the devices into a kind of electronic wallet.

One of the biggest mobile payment company, Square Inc., offers free hardware to businesses for mobile phone transactions, has introduced this new software aimed at making consumers’ mobile phones a mobile wallet.

This program will first launch in New York, then San Francisco, followed by some other locations and eventually a broader rollout. Some of the participating retailers include Macy’s, Americal Eagle and Subway.